Note 1 - The Company and Basis of Presentation
|6 Months Ended|
Jun. 30, 2017
|Notes to Financial Statements|
|Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]||
1.The Company and Basis of Presentation
Viveve Medical, Inc. (“Viveve Medical”, the “Company”, “we”, “our”, or “us”) competes in the women’s health industry in some countries by marketing Geneveve™ as a way to improve the overall sexual well-being and quality of life of women suffering from vaginal laxity.
March 22, 2017,in connection with the closing of a public offering (the
“March 2017Offering”), the Company issued an aggregate of
8,625,000shares of common stock, including the shares issued in connection with the exercise of the underwriters’ overallotment option, at a public offering price of
$4.00per share for gross proceeds of approximately
$34,500,000.The net proceeds to the Company, after the deduction of underwriting discounts, commissions and other offering expenses, were approximately
$31,440,000.As a result of the
March 2017Offering, management believes that the substantial doubt about the Company’s ability to continue as a going concern, which existed as of the date of filing our Annual Report on Form
10-K for the year ended
December 31, 2016,is
June 17, 2016,in connection with the closing of a public offering (the
“June 2016Offering”), the Company issued an aggregate of
3,105,000shares of common stock, including the shares issued in connection with the exercise of the underwriters’ overallotment option, at a public offering price of
$5.00per share for gross proceeds of approximately
$15,525,000.The net proceeds to the Company, after the deduction of underwriting discounts, commissions and other offering expenses, were approximately
Change of Corporate Domicile
May 9, 2016,the Company filed the necessary Application for Authorization to Continue into Another Jurisdiction and Statutory Declaration with the Yukon registrar. On
May 10, 2016,the Company filed a Certificate of Incorporation with the Secretary of State of the State of Delaware to move its domicile from the Yukon Territory to Delaware. In connection with the incorporation in Delaware, the Company's stock now has a par value of
Interim Unaudited Financial Information
The accompanying unaudited condensed consolidated financial statements of Viveve Medical have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form
10-Q and Article
03of Regulation S-
X.Accordingly, they do
notinclude all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the condensed consolidated financial statements have been included.
The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Annual Report on Form
10-K for the year ended
December 31, 2016,which was filed with the Securities and Exchange Commission on
February 16, 2017.
June 30, 2017are
notnecessarily indicative of the results for the year ending
2017or any future interim period.
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.
Reference 1: http://www.xbrl.org/2003/role/presentationRef